Suppose the demand and supply curves for units of university credits are given by
Q^D = 5,000 - P
Q^S = -1,000 + 4P
Where Q^D is the quantity of credits demanded, Q^S is the quantity supplied, and P is the price in dollars for each unit. In this market, the equilibrium price is ____ and the equilibrium quantity is ____.

Question

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The Answer of Suppose the demand and supply curves for units of university credits are given by Q^D = 5,000 - P Q^S = -1,000 + 4P Where Q^D is the quantity of credits demanded, Q^S is the quantity supplied, and P is the price in dollars for each unit. In this market, the equilibrium price is ____ and the equilibrium quantity is ____. A) $3,800; 1,200 B) $3,000; 2000 C) $1,200; 3,800 D) $2,000; 3,000

Suppose the Demand and Supply Curves for Units of University